04:25 PM EDT, 04/22/2024 (MT Newswires) -- US benchmark equity indexes rose Monday, as traders looked forward to a busy corporate earnings week.

The Nasdaq Composite increased 1.1% to 15,451.3, while the S&P 500 added 0.9% to 5,010.6. The Dow Jones Industrial Average gained 0.7% to 38,240. All sectors closed higher, led by led by technology and financials.

In company news, tech giants Microsoft ( MSFT ) , Google ( GOOG ) parent Alphabet (GOOG, GOOGL), and Facebook parent Meta Platforms ( META ) are scheduled to report their latest financial results later this week, alongside other major names such as Tesla (TSLA), AT&T ( T ) , Boeing ( BA ) , United Parcel Service ( UPS ) , Intel ( INTC ) , American Airlines ( AAL ) , Exxon Mobil ( XOM ) and Chevron ( CVX ) .

Bloomberg consensus calls for S&P 500 index profits to expand 2%, Wells Fargo Investment Institute said in a Monday note. "While this appears to be a modest gain, if beat rates remain consistent with the past four quarters, overall earnings could end up higher than the initial estimate," the firm said. The market consensus is for revenue growth of around 3.5% in the quarter, according to the note.

The US 10- and two-year yields were little changed at 4.62% and 4.97%, respectively, on Monday.

Truist Financial ( TFC ) shares rose 3.4%, among the top gainers on the S&P 500, after the financial services company's first-quarter earnings topped Wall Street's views while its revenue missed market estimates.

Verizon Communications ( VZ ) saw the second-steepest decline on the S&P 500, down 4.7%, even as the telecommunications giant logged better-than-expected first-quarter earnings and recorded fewer postpaid phone subscriber losses versus a year earlier.

Tesla shares dropped 3.4%, the worst performer on the Nasdaq and among the steepest decliners on the S&P 500, as the electric vehicle maker lowered prices in several markets, adding to concerns over its gross margins.

West Texas Intermediate crude oil fell 0.1% to $82.02 per barrel Monday. Oil prices have been "tame" so far despite the ongoing conflict in the Middle East, though investors remain concerned regarding the prices and supply disruptions given Iran's proximity to the Strait of Hormuz, which is located between Iran and Oman, Wells Fargo Investment said.

"It is a legitimate concern as roughly 20 million barrels of crude oil per day (20% of daily global demand) move through the Strait of Hormuz...making it a crucial choke point for global oil trade," the firm said.

Israel launched a retaliatory strike on Iran early Friday morning, with explosions heard in the city of Isfahan, NBC News reported last week. Iranian officials reportedly downplayed the impact of a possible strike by Israel.

Gold declined 2.9% to $2,343.50 per troy ounce Monday, while silver tumbled 5.4% to $27.30 per ounce.